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LONG-TERM DEBT
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
LONG-TERM DEBT LONG-TERM DEBT
The components of the Company's long-term debt consisted of the following (in thousands):
 September 30, 2022December 31, 2021
 
Carrying Value (1)
Fair Value
Carrying Value (1)
Fair Value
ABL Revolver$40,606 $40,606 $— $— 
Term Loan B324,225 308,014 326,700 325,883 
Total long-term debt364,831 348,620 326,700 325,883 
Less: current portion(43,906)(43,741)(3,300)(3,292)
Long-term debt less current maturities$320,925 $304,879 $323,400 $322,591 

(1) Carrying value amounts do not include unamortized debt issuance costs of $7.2 million and $8.0 million for September 30, 2022 and December 31, 2021, respectively.

Credit Agreements

On July 19, 2022, the Company entered into an Amended and Restated Loan and Security Agreement (the “ABL Credit Agreement”) that provided for a $135.0 million asset-backed revolving line of credit (the "ABL Revolver"). The ABL Credit Agreement amends and restates the Loan and Security Agreement dated as of August 29, 2017. Subject to the conditions set forth in the ABL Credit Agreement, the ABL Revolver may be increased by up to an aggregate of $50.0 million, in minimum increments of $10.0 million. The ABL Revolver matures on July 19, 2027. As of September 30, 2022, the Company had $40.6 million outstanding under the ABL Revolver included in current maturities and debt on our unaudited condensed consolidated balance sheets. Total borrowing capacity under the ABL Revolver was $91.7 million, net of the impact of outstanding letters of credit.

On December 23, 2020, DXP entered into a seven year, $330 million Senior Secured Term Loan B (the “Term Loan B Agreement”), which replaced DXP’s previously existing Senior Secured Term Loan.

The fair value measurements used by the Company are considered Level 2 inputs, as defined in the fair value hierarchy. The fair value estimates were based on quoted prices for identical or similar securities.

The Company was in compliance with all financial covenants under the ABL Revolver and Term Loan B Agreements as of September 30, 2022.